by | Feb 3, 2023 | Affordable Housing
Image by Tumisu via pixabay Affordability is facing the perfect storm, Vice President of Advocacy and Strategic Communications at the National Multifamily Housing Council, Jim Lapides, said at the final day of the 2023 Annual NMHC Conference. Contributing to the...
by | Feb 3, 2023 | Affordable Housing
Martin Luther King Apartments. Image courtesy of Yardi Matrix New Neighborhoods Inc. has secured a $24.1 million HUD 223(f) refinancing loan for Martin Luther King Apartments, an 89-unit fully affordable community in Stamford, Conn. Greystone originated the 35-year,...
by | Feb 1, 2023 | Affordable Housing
Image by Nuno Marques via Unsplash.com Enterprise Community Partners and DC Green Bank are investing $12.4 million in the installment of solar panels at Enterprise’s four affordable communities in Washington D.C. The project is set to bring 2.2 megawatts of...
by | Jan 30, 2023 | Affordable Housing
Osage Mill groundbreaking. Image courtesy of WinnCompanies WinnCompanies has broken ground on a 139-unit fully affordable community in Bessemer City, N.C. The $35 million historic redevelopment is scheduled for delivery in late 2024. The project consists in the...
by | Jan 30, 2023 | Affordable Housing
DESC Burien rendering. Image courtesy of Dominium Dominium, in partnership with Seattle’s Downtown Emergency Services Center, has closed on financing for DESC Burien, a 95-unit fully affordable development in Burien, Wash. Dominium will offer pro-bono...
by | Jan 30, 2023 | Affordable Housing
Groundbreaking at the Ascent at Mountain Creek. Image courtesy of Business Wire The NRP Group has broken ground on a 324-unit mixed-income property. The community, the Ascent at Mountain Creek, is located 15 minutes outside of downtown Dallas. Half of the homes in...
by | Jan 30, 2023 | Affordable Housing
The White House. Image by NomadJim via Pixabay Housing policy has been a high-profile effort by the Biden administration, but a new proposal is raising significant concerns from multifamily industry stakeholders. In the latest move targeting affordability-related...
by | Jan 27, 2023 | Affordable Housing
The Life at Lakeside Villas. Image courtesy of Olive Tree Affordable Housing Olive Tree Affordable Housing, a subsidiary of Olive Tree Holdings, has completed its purchase of The Life at Lakeside Villas, a 429-unit affordable townhome community located at 1591 Lake...
by | Jan 27, 2023 | Affordable Housing
1650 Lincoln rendering. Image courtesy of KFA Tishman Speyer has secured the Basis Investment Group as equity partner for a collection of eight development sites across 3.1 acres in Santa Monica, Calif. The Class A residential project in downtown Santa Monica is...
by | Jan 26, 2023 | Affordable Housing
8181 Allison. Image courtesy of USA Properties Fund USA Properties Fund has broken ground on 8181 Allison, a 147-unit affordable community in La Mesa, Calif. Completion is slated for the last quarter of 2024. The City of La Mesa, KeyBank, California Housing Finance...
by | Jan 25, 2023 | Affordable Housing
Fairground Flats. Image courtesy of TWG TWG Development has broken ground on Fairground Flats, a 216-unit affordable housing community in Oklahoma City. Construction is slated for completion in 2024. The $47 million project is being developed with the support of the...
by | Jan 23, 2023 | Affordable Housing
The New York State Capitol building. Image by jensjunge via Pixabay New York State Gov. Kathy Hochul has announced that the state has been awarded more than $390 million in bonds and subsidies for the construction and preservation of over 1,600 affordable apartment...
by | Jan 20, 2023 | Affordable Housing
900 Rainier. Rendering courtesy of Northmarq Borrower O.Z. Navigator has obtained a $112 million construction loan to develop 900 Rainier, a mixed-income apartment community intended to meet some of the affordable housing challenges of Seattle, Wash. The eight-story...
by | Jan 19, 2023 | Affordable Housing
Rendering of the rehabilitated Thurgood Marshall Plaza. Image courtesy of Walker & Dunlop A three-building, fully affordable portfolio in Manhattan, N.Y.’s Harlem neighborhood landed $120 million in financing, to be used for the rehabilitation of the...
by | Jan 17, 2023 | Affordable Housing
Tavistock at Woolwich. Image courtesy of The Michaels Organization The Michaels Organization is set to break ground on Tavistock at Woolwich, a 72-unit fully affordable community in Woolwich, N.J. Urban Practice is providing architecture services while Michaels...
by | Jan 16, 2023 | Affordable Housing
Image by andibreit via Pixabay The affordable housing crisis will be at the top of the multifamily industry’s policy challenges again this year. Sponsors, public agencies and residents alike are caught in the squeeze of supply shortages and unremitting demand....
by | Jan 13, 2023 | Affordable Housing
Soul rendering. Image courtesy of Merchants Capital Schafer Richardson has secured $77 million in financing for Soul, a 178-unit affordable housing development in Saint Paul, Minn. Merchants Capital provided the financing, which includes: a $33 million construction...
by | Jan 12, 2023 | Affordable Housing
Riverside Towers. Image courtesy of Jonathan Rose Cos. and Schochet Cos. Jonathan Rose Cos. and Schochet Cos. have received $13.5 million in financing from MassHousing for the renovation and preservation of affordability of Riverside Towers, a 199-unit affordable...
by | Jan 11, 2023 | Affordable Housing
Image by Dillon Shook via Unsplash.com The AiDS Healthcare Foundation has acquired a 62-unit hotel in downtown Los Angeles for $6.7 million. Leland Hotel will be transformed into affordable housing for the homeless and extremely low-income residents. Previously known...
by | Jan 10, 2023 | Affordable Housing
Beach Green Dunes 3 rendering. Image courtesy of L+M Development Partners A joint venture including L+M Development Partners, The Bluestone Organization and Triangle Equities has received $95.7 million in financing for a mixed-use, fully affordable project in Far...
by Kipp Gillian | Nov 14, 2022 | Retail
Global retailer UNIQLO will open its first store in downtown Seattle on November 18th at the URG and KKR-owned 300 Pine St. building in the heart of the city’s retail core. The new ground floor, 12,000-square-foot location will be UNIQLO’s anchor outlet in Seattle,...
by Kipp Gillian | Nov 14, 2022 | Multifamily
Kidder Mathews’ Simon and Anderson multifamily team has released a report on the state of the Seattle and Puget Sound apartment market, and found that while third quarter rental growth remained strong, there was a marked slowdown in investment sales. The Seattle urban...
by Kipp Gillian | Nov 14, 2022 | Retail
The Hispanic retail market was a topic for a panel discussion at Connect Retail West 2022, a one-day conference at the Luxe Sunset Boulevard Hotel in Los Angeles, Wednesday, November 9. The panel, which was moderated by Michelle R. Lagos, an associate at Allen...
by Kipp Gillian | Nov 14, 2022 | Retail
West Harbor, a 42-acre dining and entertainment destination along the waterfront, has broken ground in the San Pedro area of Los Angeles, and is expected to be completed in 2024. The project has also closed on $90 million of construction financing, adding to the $65...
by Kipp Gillian | Nov 14, 2022 | Multifamily
City and community leaders in San Francisco recently celebrated the groundbreaking of Potrero Block B, a 157-unit, 100% affordable housing development in the Potrero Hill neighborhood of San Francisco. Developed by BRIDGE Housing, in partnership with the Mayor’s...
by Kipp Gillian | Nov 14, 2022 | Retail
The Bella Terra mixed-use development in Huntington Beach, CA has earned the city’s approval to add 300 apartments to the project by 2026. According to the Orange County Register, owners PGIM and DJM Capital will knock down the Burlington Coat Factory store and build...
by Kipp Gillian | Nov 14, 2022 | Multifamily
The Bella Terra mixed-use development in Huntington Beach, CA has earned the city’s approval to add 300 apartments to the project by 2026. According to the Orange County Register, owners PGIM and DJM Capital will knock down the Burlington Coat Factory store and build...
by Kipp Gillian | Nov 14, 2022 | Retail
Inland Empire-based retail brokerage firm Progressive Real Estate Partners, has completed a lease with Target for a new location at the Vineyard Freeway Center in Ontario, CA. The retailer will occupy 70,000 square feet of the former Kmart building at the location...
by Kipp Gillian | Nov 14, 2022 | Hotel
Houston billionaire Tilman Fertitta has bought the 260-room ocean-view Montage Laguna Beach hotel in coastal Orange County for roughly $650 million. The price is believed to be one of the highest prices ever paid for a California hotel. In 2018, he built the Post Oak...
by Kipp Gillian | Nov 14, 2022 | Industrial
CBRE has arranged the $6 million off-market sale of a 23,000-square-foot industrial building in El Cajon, CA. The firm’s Matt Pourcho, Matt Harris, Anthony DeLorenzo and Bryan Johnson represented the seller, Chris Nelson with Wavy Properties LLC and Royal Estate...
by Kipp Gillian | Nov 14, 2022 | Hotel
A company that operates three large flea market/amusement park venues in Texas is acquiring Western Playland in Sunland Park, New Mexico, on the west edge of El Paso. The area’s only amusement park has been owned and operated by the same El Paso family for 62 years....
by Kipp Gillian | Nov 14, 2022 | Retail
Off Lease Only, a pre-owned car dealership group in Florida (see picture), is expanding into Texas. They’re calling their Texas entry, CarSquad. CarSquad’s first flagship store is slated to open in early 2023, in Katy. CarSquad’s site area covers 15...
by Kipp Gillian | Nov 14, 2022 | Hotel
East River 9 is accepting all golfers and Riverhouse Houston has recently opened its doors. The two attractions are just scratching the surface of what is expected to come. East River 9 is a nine-hole, par-three golf course with a companion driving range, putting...
by Kipp Gillian | Nov 14, 2022 | Multifamily
The RealSource Properties Inc. REIT has raised its net asset value (‘NAV’) to $13.96 from $12.00. The updated valuation represents an increase of $1.96 or 16.3% from its prior valuation. The REIT, launched in March 2022, is currently valued at $430 million with a fund...
by Kipp Gillian | Nov 14, 2022 | Hotel
Summit Hotel Properties REIT acquired a glamping asset, an 11 unit property in Fredericksburg, Texas, in the middle of the Texas Hill Country wine region. Summit’s 90/10 acquisition of Onera, a high-end glamping company, signals the company’s interest in...
by Kipp Gillian | Nov 14, 2022 | Office
Chevy Chase, MD-based Artemis Real Estate Partnershttp://www. nmrk.com — in a $1-billion joint venture with Jupiter, FL-based Rendina Healthcare Real Estate and CalSTRS — has acquired a portfolio of 12 medical office buildings. The properties are located in multiple...
by Kipp Gillian | Nov 14, 2022 | Multifamily
Glen Allen, VA-based Capital Square has sold Ivy Commons Apartments, a 344-unit community in Marietta, GA, for $75.5 million. The property was owned by a group of Delaware statutory trust, investors who realized approximately 200% total return and 20% internal rate of...
by Kipp Gillian | Nov 14, 2022 | Industrial
Charlotte, NC-based Crescent Communities’ AXIAL Industrial brand is slated start construction on AXIAL Southgate 77, a two-building 270,557-square-foot industrial property in Rock Hill, SC. AXIAL Southgate 77 will offer 32-foot clear heights, rear-load capacity,...
by Kipp Gillian | Nov 14, 2022 | Office
MetLife Investment Management has paid $103 million to acquire Burlington BioCenter, a newly delivered life-science asset located 15 miles northwest of Boston in Burlington, MA. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented...
by Kipp Gillian | Nov 14, 2022 | Multifamily
Cambridge, MA-based Acorn Holdings, LLC has broken ground on 605 Concord, a mixed-use transit-oriented development that will deliver 49 apartment units above 2,500 square feet of street-level retail space to Cambridge’s Fresh Pond neighborhood. Needham, MA-based...
by Kipp Gillian | Nov 14, 2022 | Industrial
A newly created strategic partnership between BG Capital and FreezPak Logistics has purchased a 20.5-acre development site in Jacksonville, FL for $11.7 million as part of its effort to build a network of cold storage distribution centers across the country. The...
by Kipp Gillian | Nov 14, 2022 | Office
FLRE Investors, LLC, has purchased 16400 State Route 54, a single-story office building totaling 171,752 square feet in the Tampa submarket of Odessa, FL, for $38.9 million. Robbie McEwan, Michael Brewster, Matt McCormack and Gary Godsey of JLL represented the seller...
by Kipp Gillian | Nov 14, 2022 | Retail
Washington, DC-based Arcland Property Company has acquired self-storage facilities at 4551 Eisenhower Ave, Alexandria, VA and 3700 Plyers Mill Rd, Kensington, MD. The off-market properties total nearly 281,000 square feet across approximately 3,100 storage units....
by Kipp Gillian | Nov 14, 2022 | Multifamily
Even though it was built in 1968, the Corsican Apartments, still towers above its surroundings. The 82-unit high-rise multifamily community is situated in Denver’s Cheesman Park neighborhood. It sold for $31 mil ($378k/unit), the first time the tower exchanged hands...
by Kipp Gillian | Nov 14, 2022 | Hotel
Hines has formed a joint venture with The Galesi Group (Galesi) to develop a Class-A industrial and logistics park. The venture is located two miles from the Samsung Austin Semiconductor plant, less than one mile from SH 130, and less than 10 miles from downtown...
by Kipp Gillian | Nov 14, 2022 | Retail
Hines has formed a joint venture with The Galesi Group (Galesi) to develop a Class-A industrial and logistics park. The venture is located two miles from the Samsung Austin Semiconductor plant, less than one mile from SH 130, and less than 10 miles from downtown...
by Kipp Gillian | Nov 14, 2022 | Office
Hines has formed a joint venture with The Galesi Group (Galesi) to develop a Class-A industrial and logistics park. The venture is located two miles from the Samsung Austin Semiconductor plant, less than one mile from SH 130, and less than 10 miles from downtown...
by Kipp Gillian | Nov 14, 2022 | Multifamily
Hines has formed a joint venture with The Galesi Group (Galesi) to develop a Class-A industrial and logistics park. The venture is located two miles from the Samsung Austin Semiconductor plant, less than one mile from SH 130, and less than 10 miles from downtown...
by Kipp Gillian | Nov 12, 2022 | Office
As businesses are returning to the office post-pandemic, office real estate owners are using creative methods to welcome tenants and employees back to the workplace. The implementation of water features at these locations is enabling stakeholders to realize the unique...
by Kipp Gillian | Nov 12, 2022 | Multifamily
Last year, a client entrusted Peak Realty Chicago (PRC) to purchase and stabilize a five-flat located at 2815 N. Harding Ave. in Chicago’s Logan Square neighborhood. A year later, after $150,000 in renovations, it closed for $1,115,000, a near $250,000...
